The Oil Country Tubular Goods Market size was valued at USD 23.11 Billion in 2023. It is expected to grow to USD 39.41 Billion by 2031 and grow at a CAGR of 6.9% over the forecast period of 2024-2031.
Oil Country Tubular Goods is a category of tubular products that are subjected to loading conditions according to on their specialized use, such as drill pipe, casing, line pipe, and tubing. Because of its adaptability and safety, the American Petroleum Institute grade is extensively utilized across the world. API's principal purpose is to create draught standards for the oil and petroleum sector in order to assure the safety and dependability of industrial machinery. Premium-grade items adhere to the International Organization for Standardization's specifications. Tubular items from the oil industry are used in onshore and offshore exploration and extraction facilities. Between the casings and the wellbore, cement or other materials are usually used to keep them in place. It also keeps undesirable fluids and gases out of the well.
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Drivers
The global economic recovery has led to an increased demand for energy in many regions across the globe. At the forefront of the global energy landscape are oil and gas, widely utilized in diverse processes, ranging from manufacturing to electricity production. To meet the substantial demand for these hydrocarbons, oilfield service providers and operators are making significant investments in exploration and production operations. This surge in exploration and production activities stands out as a key trend in the Oil Country Tubular Goods (OCTG) industry.
Restraint
Worldwide crude oil prices are a source of uncertainty.
OCTG failure during exploration and production operations.
Global crude oil prices are a perpetual source of uncertainty, influencing various facets of the oil and gas industry. One critical concern stemming from this unpredictability is the susceptibility of Oil Country Tubular Goods (OCTG) to failure during exploration and production operations. The instability in crude oil prices can contribute to challenges in maintaining the integrity of OCTG components, highlighting the impact of market dynamics on the reliability of exploration and production activities.
Opportunities
Fast economic growth and technological advancements in underdeveloped countries
Governments and commercial companies are both interested in finding new oil well reserves.
Rapid economic growth and technological advancements in underdeveloped countries have garnered significant attention. Governments and commercial entities alike are actively engaged in the exploration of new oil well reserves, driven by the potential for economic opportunities and the strategic importance of securing energy resources.
Challenges
Unpredictable fluctuations in oil and gas prices
Growing environmental concerns
The OCTG market encounters various challenges, including the unpredictable fluctuations in oil and gas prices, growing environmental concerns, and heightened competition. To stay competitive, industry vendors need to invest significantly in research and development. This investment is crucial for creating innovative and environmentally friendly OCTG products, aligning with the industry's evolving demands and sustainability expectations.
Armed conflicts, such as the Russia-Ukraine war, can disrupt global supply chains, affecting the production and transportation of raw materials essential for OCTG manufacturing. Geopolitical tensions often create uncertainty in financial markets, which can influence investment decisions within the oil and gas industry. Uncertainty may lead to delays or changes in projects, impacting the demand for OCTG. Geopolitical events can contribute to fluctuations in energy prices. Any significant changes in oil and gas prices may impact exploration and production activities, subsequently affecting OCTG demand. The geopolitical situation may influence investment decisions in energy infrastructure, impacting the demand for OCTG products used in drilling and extraction operations. Geopolitical events can have broader economic consequences, potentially affecting overall global economic growth. Economic downturns can influence the energy sector and, by extension, the OCTG market
Economic downturns often lead to reduced industrial activities and lower demand for oil and gas. This decline in demand can negatively impact exploration and production activities, subsequently affecting the demand for OCTG products used in drilling and extraction operations. Economic uncertainties can result in a reduction in capital expenditures by oil and gas companies. The reluctance to invest in new projects or exploration may lead to a slowdown in the purchase of OCTG materials and equipment. Economic downturns can contribute to increased volatility in oil and gas prices. Fluctuations in commodity prices can impact the profitability of oilfield operations, influencing the decision-making process for investments in OCTG. Companies may delay or cancel planned drilling projects due to financial constraints during an economic downturn. This can directly impact the demand for OCTG materials and related services.
KEY MARKET SEGMENTATION
By Manufacturing Process
Electric Resistance Welded (ERW)
Seamless
The segmentation of the Oil Country Tubular Goods (OCTG) Market, categorized by Manufacturing Process, comprises Electric Resistance Welded (ERW) and Seamless options. Notably, the seamless segment emerged as the market leader in 2022. Seamless OCTG pipes are renowned for their elevated strength and integrity, contributing to their dominant position. The absence of welded junctions in seamless pipes renders them more resistant to corrosion, pressure, and extreme temperatures, eliminating potential weak spots. This characteristic is especially crucial in challenging drilling conditions, such as those encountered in deepwater or high-pressure wells. The preference for seamless OCTG pipes underscores their suitability for demanding operational environments, solidifying their prominence in the market.
By Product
Well Casing
Product tubing
Others
Well casing plays a pivotal role in drilling operations, serving as an indispensable component that safeguards against groundwater contamination and ensures the stability of continuous drilling activities. Its primary function is to support the well walls, preventing the collapse of unconsolidated sand or rock fragments encountered during the well penetration. Additionally, casing plays a crucial role in protecting essential elements such as electrical wires, pull cables, and water tubing or piping connected to submersible pumps.
By Grade
API Grade
Premium Grade
The segmentation of the Oil Country Tubular Goods (OCTG) Market, categorized by Grade, comprises API Grade and Premium Grade. Notably, the premium grade category emerged as the top revenue generator in 2022. The exploration and development of oil and gas fields, particularly offshore, have triggered a heightened demand for high-grade transportation tubes. These tubes are designed to withstand corrosion and ensure leak-proof operation, maintaining sealing integrity even under conditions of loading, bending, and exposure to high internal pressure.
The evolving landscape of offshore exploration and development necessitates the use of premium-grade tubing, emphasizing the crucial role it plays in transferring oil and gas from both onshore and offshore fields to end consumers. The anticipated growth of the Oil Country Tubular Goods market is closely tied to the increasing demand for premium tubing, underlining its significance in facilitating the secure and efficient transportation of oil and gas to end-user locations. This trend positions premium-grade OCTG as a key driver for the expansion of the market in the foreseeable future.
By Application
Onshore
Offshore
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REGIONAL ANALYSIS:
The market segmentation by region in this study offers valuable insights into North America, Europe, Asia-Pacific, and the Rest of the World. Notably, the North America Oil Country Tubular Goods (OCTG) Market asserted its dominance in 2022, capturing a substantial share of 45.8%. The United States, in particular, experienced a significant shale revolution, leading to increased output of unconventional resources like shale gas and tight oil. The exploration and exploitation of these resources heavily rely on OCTG products, thereby driving the region's demand for OCTG. Within North America, the U.S. Oil Country Tubular Goods market held the largest market share, while the Canada Oil Country Tubular Goods market emerged as the fastest-growing market. Furthermore, Latin America exhibited notable growth, with countries like Brazil, Mexico, Argentina, and Venezuela making extensive investments in discovering new reserves to meet future energy requirements. This has attracted significant interest from key industrial players looking to invest in exploration activities, contributing to the expansion of the OCTG market size in the region.
In Europe, steady growth is observed despite a shift towards renewable energy sources in most countries. The hydrocarbon industry still holds potential, with the UK, Germany, Norway, and Russia focusing on increasing domestic production. Meanwhile, in Asia-Pacific, growth is expected to be slower due to a lack of technological advancement and economic slowdown. In the Middle East and Africa, oil-rich nations continue to expand their projects to boost oil and gas production. Countries like Saudi Arabia, UAE, Oman, Kuwait, Algeria, Angola, and Egypt are making extensive investments in drilling operations to meet the rising demand for oil and gas. The regional dynamics outlined in the study highlight diverse market trends and opportunities for stakeholders across different
REGIONAL COVERAGE:
North America
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of the Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
Rest of Latin America
The major key players are ArcelorMittal SA, Evraz North America plc, Iljin steel corporation, Jfe steel corporation Nov inc., Oil country tubular limited, Sumitomo corporation, Tenaris, Tmk inc., U.s. steel corporation & Other Players
The burgeoning demand from oil and gas upstream operations is propelling the expansion of the premium-grade Oil Country Tubular Goods (OCTG) market. Premium-grade applications are particularly prevalent in gas wells, horizontal wells, high-pressure settings exceeding 5,000 psi, and high-temperature environments surpassing 250°F. These applications necessitate the use of premium-grade OCTG due to their suitability for more complex connections and their ability to provide gas-tight sealing where required.
The remarkable growth of shale deposits is significantly boosting the exploration and extraction of natural gas. Notably, the rapid expansion of shale resources is attributed to the positive impact of horizontal directional drilling. This drilling technique has facilitated the extraction of natural gas from shale formations, becoming a driving force behind the heightened demand for premium-quality OCTG in the market. The versatility and advanced features of premium-grade OCTG position it as a critical component in addressing the challenges posed by intricate drilling conditions, thereby further fueling its market growth.
In January 2022: Jindal SAW and Hunting Energy Services unveiled a joint venture to establish an Oil Country Tubular Goods (OCTG) threading mill in Nashik, India. This collaborative effort aims to manufacture machinery essential for oil and gas drilling operations. The initial investment, ranging from $20 to $25 million, sees Jindal SAW holding a controlling stake in the 51:49 partnership. The plant is anticipated to become fully operational by the end of 2022, marking a significant stride in bolstering local capabilities for OCTG production in India.
| Report Attributes | Details |
|---|---|
| Market Size in 2023 | US$ 23.11 Billion |
| Market Size by 2031 | US$ 39.41 Billion |
| CAGR | CAGR 6.9% From 2024 to 2031 |
| Base Year | 2023 |
| Forecast Period | 2024-2031 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • by Manufacturing Process (Electric Resistance Welded (ERW) and Seamless) • by Product (Well Casing, Product tubing, Drill Pipe, Others) • by Application (Onshore and Offshore) |
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America) |
| Company Profiles | ArcelorMittal SA, Evraz North America plc, Iljin steel corporation, Jfe steel corporation Nov inc., Oil country tubular limited, Sumitomo corporation, Tenaris, Tmk inc., U.s. steel corporation. |
| Key Drivers | •Rising drilling activities expected to boost market growth. •Sour crude production is increasing. |
| Restraints | •Worldwide crude oil prices are a source of uncertainty. •OCTG failure during exploration and production operations. |
Ans: The Oil Country Tubular Goods Market size was valued at USD 23.11 Bn in 2023.
Ans: The Oil Country Tubular Goods Market is to grow at a CAGR of 6.9% From 2024 to 2031.
Ans: - The Asia-Pacific region is expected to dominate the worldwide market.
Ans. The primary growth tactics of Oil Country Tubular Goods market participants include merger and acquisition, business expansion, and product launch.
Ans: - Key Stakeholders Considered in the study are Raw material vendors, Regulatory authorities, including government agencies and NGOs, Commercial research, and development (R&D) institutions, Importers and exporters, etc.
TABLE OF CONTENT
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 Impact Of Russia Ukraine Crisis
4.2 Impact of Economic Slowdown on Major Countries
4.2.1 Introduction
4.2.2 United States
4.2.3 Canada
4.2.4 Germany
4.2.5 France
4.2.6 UK
4.2.7 China
4.2.8 Japan
4.2.9 South Korea
4.2.10 India
5. Value Chain Analysis
6. Porter’s 5 Forces Model
7. Pest Analysis
8.Oil Country Tubular Goods Market, By Manufacturing Process
8.1 Electric Resistance Welded (ERW)
8.2 Seamless
9. Oil Country Tubular Goods Market, By Product
9.1 Well Casing
9.2 Product tubing
9.3 Drill Pipe
9.4 Others
10. Oil Country Tubular Goods Market, By Grade
10.1 API Grade
10.2 Premium Grade
11. Oil Country Tubular Goods Market, By Application
11.1 Onshore
11.2 Offshore
12. Regional Analysis
12.1 Introduction
12.2 North America
12.2.1 Trend Analysis
12.2.2 North America Oil Country Tubular Goods Market By Country
12.2.3 North America Oil Country Tubular Goods Market By Manufacturing Process
12.2.4 North America Oil Country Tubular Goods Market By Product
12.2.5 North America Oil Country Tubular Goods Market By Grade
12.2.6 North America Oil Country Tubular Goods Market, By Application
12.2.7 USA
12.2.7.1 USA Oil Country Tubular Goods Market By Manufacturing Process
12.2.7.2 USA Oil Country Tubular Goods Market By Product
12.2.7.3 USA Oil Country Tubular Goods Market By Grade
12.2.7.4 USA Oil Country Tubular Goods Market, By Application
12.2.8 Canada
12.2.8.1 Canada Oil Country Tubular Goods Market By Manufacturing Process
12.2.8.2 Canada Oil Country Tubular Goods Market By Product
12.2.8.3 Canada Oil Country Tubular Goods Market By Grade
12.2.8.4 Canada Oil Country Tubular Goods Market, By Application
12.2.9 Mexico
12.2.9.1 Mexico Oil Country Tubular Goods Market By Manufacturing Process
12.2.9.2 Mexico Oil Country Tubular Goods Market By Product
12.2.9.3 Mexico Oil Country Tubular Goods Market By Grade
12.2.9.4 Mexico Oil Country Tubular Goods Market, By Application
12.3 Europe
12.3.1 Trend Analysis
12.3.2 Eastern Europe
12.3.2.1 Eastern Europe Oil Country Tubular Goods Market By Country
12.3.2.2 Eastern Europe Oil Country Tubular Goods Market By Manufacturing Process
12.3.2.3 Eastern Europe Oil Country Tubular Goods Market By Product
12.3.2.4 Eastern Europe Oil Country Tubular Goods Market By Grade
12.3.2.5 Eastern Europe Oil Country Tubular Goods Market By Application
12.3.2.6 Poland
12.3.2.6.1 Poland Oil Country Tubular Goods Market By Manufacturing Process
12.3.2.6.2 Poland Oil Country Tubular Goods Market By Product
12.3.2.6.3 Poland Oil Country Tubular Goods Market By Grade
12.3.2.6.4 Poland Oil Country Tubular Goods Market By Application
12.3.2.7 Romania
12.3.2.7.1 Romania Oil Country Tubular Goods Market By Manufacturing Process
12.3.2.7.2 Romania Oil Country Tubular Goods Market By Product
12.3.2.7.3 Romania Oil Country Tubular Goods Market By Grade
12.3.2.7.4 Romania Oil Country Tubular Goods Market By Application
12.3.2.8 Hungary
12.3.2.8.1 Hungary Oil Country Tubular Goods Market By Manufacturing Process
12.3.2.8.2 Hungary Oil Country Tubular Goods Market By Product
12.3.2.8.3 Hungary Oil Country Tubular Goods Market By Grade
12.3.2.8.4 Hungary Oil Country Tubular Goods Market By Application
12.3.2.9 Turkey
12.3.2.9.1 Turkey Oil Country Tubular Goods Market By Manufacturing Process
12.3.2.9.2 Turkey Oil Country Tubular Goods Market By Product
12.3.2.9.3 Turkey Oil Country Tubular Goods Market By Grade
12.3.2.9.4 Turkey Oil Country Tubular Goods Market By Application
12.3.2.10 Rest of Eastern Europe
12.3.2.10.1 Rest of Eastern Europe Oil Country Tubular Goods Market By Manufacturing Process
12.3.2.10.2 Rest of Eastern Europe Oil Country Tubular Goods Market By Product
12.3.2.10.3 Rest of Eastern Europe Oil Country Tubular Goods Market By Grade
12.3.2.10.4 Rest of Eastern Europe Oil Country Tubular Goods Market By Application
12.3.3 Western Europe
12.3.3.1 Western Europe Oil Country Tubular Goods Market By Country
12.3.3.2 Western Europe Oil Country Tubular Goods Market By Manufacturing Process
12.3.3.3 Western Europe Oil Country Tubular Goods Market By Product
12.3.3.4 Western Europe Oil Country Tubular Goods Market By Grade
12.3.3.5 Western Europe Oil Country Tubular Goods Market By Application
12.3.3.6 Germany
12.3.3.6.1 Germany Oil Country Tubular Goods Market By Manufacturing Process
12.3.3.6.2 Germany Oil Country Tubular Goods Market By Product
12.3.3.6.3 Germany Oil Country Tubular Goods Market By Grade
12.3.3.6.4 Germany Oil Country Tubular Goods Market By Application
12.3.3.7 France
12.3.3.7.1 France Oil Country Tubular Goods Market By Manufacturing Process
12.3.3.7.2 France Oil Country Tubular Goods Market By Product
12.3.3.7.3 France Oil Country Tubular Goods Market By Grade
12.3.3.7.4 France Oil Country Tubular Goods Market By Application
12.3.3.8 UK
12.3.3.8.1 UK Oil Country Tubular Goods Market By Manufacturing Process
12.3.3.8.2 UK Oil Country Tubular Goods Market By Product
12.3.3.8.3 UK Oil Country Tubular Goods Market By Grade
12.3.3.8.4 UK Oil Country Tubular Goods Market By Application
12.3.3.9 Italy
12.3.3.9.1 Italy Oil Country Tubular Goods Market By Manufacturing Process
12.3.3.9.2 Italy Oil Country Tubular Goods Market By Product
12.3.3.9.3 Italy Oil Country Tubular Goods Market By Grade
12.3.3.9.4 Italy Oil Country Tubular Goods Market By Application
12.3.3.10 Spain
12.3.3.10.1 Spain Oil Country Tubular Goods Market By Manufacturing Process
12.3.3.10.2 Spain Oil Country Tubular Goods Market By Product
12.3.3.10.3 Spain Oil Country Tubular Goods Market By Grade
12.3.3.10.4 Spain Oil Country Tubular Goods Market By Application
12.3.3.11 Netherlands
12.3.3.11.1 Netherlands Oil Country Tubular Goods Market By Manufacturing Process
12.3.3.11.2 Netherlands Oil Country Tubular Goods Market By Product
12.3.3.11.3 Netherlands Oil Country Tubular Goods Market By Grade
12.3.3.11.4 Netherlands Oil Country Tubular Goods Market By Application
12.3.3.12 Switzerland
12.3.3.12.1 Switzerland Oil Country Tubular Goods Market By Manufacturing Process
12.3.3.12.2 Switzerland Oil Country Tubular Goods Market By Product
12.3.3.12.3 Switzerland Oil Country Tubular Goods Market By Grade
12.3.3.12.4 Switzerland Oil Country Tubular Goods Market By Application
12.3.3.13 Austria
12.3.3.13.1 Austria Oil Country Tubular Goods Market By Manufacturing Process
12.3.3.13.2 Austria Oil Country Tubular Goods Market By Product
12.3.3.13.3 Austria Oil Country Tubular Goods Market By Grade
12.3.3.13.4 Austria Oil Country Tubular Goods Market By Application
12.3.3.14 Rest of Western Europe
12.3.3.14.1 Rest of Western Europe Oil Country Tubular Goods Market By Manufacturing Process
12.3.3.14.2 Rest of Western Europe Oil Country Tubular Goods Market By Product
12.3.3.14.3 Rest of Western Europe Oil Country Tubular Goods Market By Grade
12.3.3.14.4 Rest of Western Europe Oil Country Tubular Goods Market By Application
12.4 Asia-Pacific
12.4.1 Trend Analysis
12.4.2 Asia-Pacific Oil Country Tubular Goods Market By Country
12.4.3 Asia-Pacific Oil Country Tubular Goods Market By Manufacturing Process
12.4.4 Asia-Pacific Oil Country Tubular Goods Market By Product
12.4.5 Asia-Pacific Oil Country Tubular Goods Market By Grade
12.4.6 Asia-Pacific Oil Country Tubular Goods Market By Application
12.4.7 China
12.4.7.1 China Oil Country Tubular Goods Market By Manufacturing Process
12.4.7.2 China Oil Country Tubular Goods Market By Product
12.4.7.3 China Oil Country Tubular Goods Market By Grade
12.4.7.4 China Oil Country Tubular Goods Market By Application
12.4.8 India
12.4.8.1 India Oil Country Tubular Goods Market By Manufacturing Process
12.4.8.2 India Oil Country Tubular Goods Market By Product
12.4.8.3 India Oil Country Tubular Goods Market By Grade
12.4.8.4 India Oil Country Tubular Goods Market By Application
12.4.9 Japan
12.4.9.1 Japan Oil Country Tubular Goods Market By Manufacturing Process
12.4.9.2 Japan Oil Country Tubular Goods Market By Product
12.4.9.3 Japan Oil Country Tubular Goods Market By Grade
12.4.9.4 Japan Oil Country Tubular Goods Market By Application
12.4.10 South Korea
12.4.10.1 South Korea Oil Country Tubular Goods Market By Manufacturing Process
12.4.10.2 South Korea Oil Country Tubular Goods Market By Product
12.4.10.3 South Korea Oil Country Tubular Goods Market By Grade
12.4.10.4 South Korea Oil Country Tubular Goods Market By Application
12.4.11 Vietnam
12.4.11.1 Vietnam Oil Country Tubular Goods Market By Manufacturing Process
12.4.11.2 Vietnam Oil Country Tubular Goods Market By Product
12.4.11.3 Vietnam Oil Country Tubular Goods Market By Grade
12.4.11.4 Vietnam Oil Country Tubular Goods Market By Application
12.4.12 Singapore
12.4.12.1 Singapore Oil Country Tubular Goods Market By Manufacturing Process
12.4.12.2 Singapore Oil Country Tubular Goods Market By Product
12.4.12.3 Singapore Oil Country Tubular Goods Market By Grade
12.4.12.4 Singapore Oil Country Tubular Goods Market By Application
12.4.13 Australia
12.4.13.1 Australia Oil Country Tubular Goods Market By Manufacturing Process
12.4.13.2 Australia Oil Country Tubular Goods Market By Product
12.4.13.3 Australia Oil Country Tubular Goods Market By Grade
12.4.13.4 Australia Oil Country Tubular Goods Market By Application
12.4.14 Rest of Asia-Pacific
12.4.14.1 Rest of Asia-Pacific Oil Country Tubular Goods Market By Manufacturing Process
12.4.14.2 Rest of Asia-Pacific Oil Country Tubular Goods Market By Product
12.4.14.3 Rest of Asia-Pacific Oil Country Tubular Goods Market By Grade
12.4.14.4 Rest of Asia-Pacific Oil Country Tubular Goods Market By End Use
12.5 Middle East & Africa
12.5.1 Trend Analysis
12.5.2 Middle East
12.5.2.1 Middle East Oil Country Tubular Goods Market By Country
12.5.2.2 Middle East Oil Country Tubular Goods Market By Manufacturing Process
12.5.2.3 Middle East Oil Country Tubular Goods Market By Product
12.5.2.4 Middle East Oil Country Tubular Goods Market By Grade
12.5.2.5 Middle East Oil Country Tubular Goods Market By Application
12.5.2.6 UAE
12.5.2.6.1 UAE Oil Country Tubular Goods Market By Manufacturing Process
12.5.2.6.2 UAE Oil Country Tubular Goods Market By Product
12.5.2.6.3 UAE Oil Country Tubular Goods Market By Grade
12.5.2.6.4 UAE Oil Country Tubular Goods Market By Application
12.5.2.7 Egypt
12.5.2.7.1 Egypt Oil Country Tubular Goods Market By Manufacturing Process
12.5.2.7.2 Egypt Oil Country Tubular Goods Market By Product
12.5.2.7.3 Egypt Oil Country Tubular Goods Market By Grade
12.5.2.7.4 Egypt Oil Country Tubular Goods Market By Application
12.5.2.8 Saudi Arabia
12.5.2.8.1 Saudi Arabia Oil Country Tubular Goods Market By Manufacturing Process
12.5.2.8.2 Saudi Arabia Oil Country Tubular Goods Market By Product
12.5.2.8.3 Saudi Arabia Oil Country Tubular Goods Market By Grade
12.5.2.8.4 Saudi Arabia Oil Country Tubular Goods Market By Application
12.5.2.9 Qatar
12.5.2.9.1 Qatar Oil Country Tubular Goods Market By Manufacturing Process
12.5.2.9.2 Qatar Oil Country Tubular Goods Market By Product
12.5.2.9.3 Qatar Oil Country Tubular Goods Market By Grade
12.5.2.9.4 Qatar Oil Country Tubular Goods Market By Application
12.5.2.10 Rest of Middle East
12.5.2.10.1 Rest of Middle East Oil Country Tubular Goods Market By Manufacturing Process
12.5.2.10.2 Rest of Middle East Oil Country Tubular Goods Market By Product
12.5.2.10.3 Rest of Middle East Oil Country Tubular Goods Market By Grade
12.5.2.10.4 Rest of Middle East Oil Country Tubular Goods Market By Application
12.5.3 Africa
12.5.3.1 Africa Oil Country Tubular Goods Market By Country
12.5.3.2 Africa Oil Country Tubular Goods Market By Manufacturing Process
12.5.3.3 Africa Oil Country Tubular Goods Market By Product
12.5.3.4 Africa Oil Country Tubular Goods Market By Grade
12.5.3.5 Africa Oil Country Tubular Goods Market By Application
12.5.3.6 Nigeria
12.5.3.6.1 Nigeria Oil Country Tubular Goods Market By Manufacturing Process
12.5.3.6.2 Nigeria Oil Country Tubular Goods Market By Product
12.5.3.6.3 Nigeria Oil Country Tubular Goods Market By Grade
12.5.3.6.4 Nigeria Oil Country Tubular Goods Market By Application
12.5.3.7 South Africa
12.5.3.7.1 South Africa Oil Country Tubular Goods Market By Manufacturing Process
12.5.3.7.2 South Africa Oil Country Tubular Goods Market By Product
12.5.3.7.3 South Africa Oil Country Tubular Goods Market By Grade
12.5.3.7.4 South Africa Oil Country Tubular Goods Market By Application
12.5.3.8 Rest of Africa
12.5.3.8.1 Rest of Africa Oil Country Tubular Goods Market By Manufacturing Process
12.5.3.8.2 Rest of Africa Oil Country Tubular Goods Market By Product
12.5.3.8.3 Rest of Africa Oil Country Tubular Goods Market By Grade
12.5.3.8.4 Rest of Africa Oil Country Tubular Goods Market By Application
12.6 Latin America
12.6.1 Trend Analysis
12.6.2 Latin America Oil Country Tubular Goods Market By Country
12.6.3 Latin America Oil Country Tubular Goods Market By Manufacturing Process
12.6.4 Latin America Oil Country Tubular Goods Market By Product
12.6.5 Latin America Oil Country Tubular Goods Market By Grade
12.6.6 Latin America Oil Country Tubular Goods Market By Application
12.6.7 Brazil
12.6.7.1 Brazil Oil Country Tubular Goods Market By Manufacturing Process
12.6.7.2 Brazil Oil Country Tubular Goods Market By Product
12.6.7.3 Brazil Oil Country Tubular Goods Market By Grade
12.6.7.4 Brazil Oil Country Tubular Goods Market By Application
12.6.8 Argentina
12.6.8.1 Argentina Oil Country Tubular Goods Market By Manufacturing Process
12.6.8.2 Argentina Oil Country Tubular Goods Market By Product
12.6.8.3 Argentina Oil Country Tubular Goods Market By Grade
12.6.8.4 Argentina Oil Country Tubular Goods Market By Application
12.6.9 Colombia
12.6.9.1 Colombia Oil Country Tubular Goods Market By Manufacturing Process
12.6.9.2 Colombia Oil Country Tubular Goods Market By Product
12.6.9.3 Colombia Oil Country Tubular Goods Market By Grade
12.6.9.4 Colombia Oil Country Tubular Goods Market By Application
12.6.10 Rest of Latin America
12.6.10.1 Rest of Latin America Oil Country Tubular Goods Market By Manufacturing Process
12.6.10.2 Rest of Latin America Oil Country Tubular Goods Market By Product
12.6.10.3 Rest of Latin America Oil Country Tubular Goods Market By Grade
12.6.10.4 Rest of Latin America Oil Country Tubular Goods Market By Application
13. Company Profiles
13.1 ArcelorMittal SA
13.1.1 Company Overview
13.1.2 Financial
13.1.3 Products/ Services Offered
13.1.4 SWOT Analysis
13.1.5 The SNS View
13.2 Evraz North America plc
13.2.1 Company Overview
13.2.2 Financial
13.2.3 Products/ Services Offered
13.2.4 SWOT Analysis
13.2.5 The SNS View
13.3 Iljin steel corporation
13.3.1 Company Overview
13.3.2 Financial
13.3.3 Products/ Services Offered
13.3.4 SWOT Analysis
13.3.5 The SNS View
13.4 Jfe steel corporation Nov inc
13.4.1 Company Overview
13.4.2 Financial
13.4.3 Products/ Services Offered
13.4.4 SWOT Analysis
13.4.5 The SNS View
13.5 Oil country tubular limited
13.5.1 Company Overview
13.5.2 Financial
13.5.3 Products/ Services Offered
13.5.4 SWOT Analysis
13.5.5 The SNS View
13.6 Sumitomo corporation
13.6.1 Company Overview
13.6.2 Financial
13.6.3 Products/ Services Offered
13.6.4 SWOT Analysis
13.6.5 The SNS View
13.7 Tenaris
13.7.1 Company Overview
13.7.2 Financial
13.7.3 Products/ Services Offered
13.7.4 SWOT Analysis
13.7.5 The SNS View
13.8 Tmk inc.
13.8.1 Company Overview
13.8.2 Financial
13.8.3 Products/ Services Offered
13.8.4 SWOT Analysis
13.8.5 The SNS View
13.9 U.s. steel corporation
13.9.1 Company Overview
13.9.2 Financial
13.9.3 Products/ Services Offered
13.9.4 SWOT Analysis
13.9.5 The SNS View
13.10 Tata Steel
13.10.1 Company Overview
13.10.2 Financial
13.10.3 Products/ Services Offered
13.10.4 SWOT Analysis
13.10.5 The SNS View
14. Competitive Landscape
14.1 Competitive Benchmarking
14.2 Market Share Analysis
14.3 Recent Developments
14.3.1 Industry News
14.3.2 Company News
14.3.3 Mergers & Acquisitions
15. Use Case and Best Practices
16. Conclusion
An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.
Each report that we prepare takes a timeframe of 350-400 business hours for production. Starting from the selection of titles through a couple of in-depth brain storming session to the final QC process before uploading our titles on our website we dedicate around 350 working hours. The titles are selected based on their current market cap and the foreseen CAGR and growth.
The 5 steps process:
Step 1: Secondary Research:
Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.
Step 2: Primary Research
When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data. This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.
We at SNS Insider have divided Primary Research into 2 parts.
Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.
This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.
Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.
Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.
Step 3: Data Bank Validation
Once all the information is collected via primary and secondary sources, we run that information for data validation. At our intelligence centre our research heads track a lot of information related to the market which includes the quarterly reports, the daily stock prices, and other relevant information. Our data bank server gets updated every fortnight and that is how the information which we collected using our primary and secondary information is revalidated in real time.
Step 4: QA/QC Process
After all the data collection and validation our team does a final level of quality check and quality assurance to get rid of any unwanted or undesired mistakes. This might include but not limited to getting rid of the any typos, duplication of numbers or missing of any important information. The people involved in this process include technical content writers, research heads and graphics people. Once this process is completed the title gets uploader on our platform for our clients to read it.
Step 5: Final QC/QA Process:
This is the last process and comes when the client has ordered the study. In this process a final QA/QC is done before the study is emailed to the client. Since we believe in giving our clients a good experience of our research studies, therefore, to make sure that we do not lack at our end in any way humanly possible we do a final round of quality check and then dispatch the study to the client.
The Cranes Market size was estimated at USD 44.0 Billion in 2022 and is expected to reach USD 67.3 Billion by 2030 at a CAGR of 4.5% during the forecast period of 2023-2030.
Actuators Market size was valued at USD 62.89 Bn in 2023 and is expected to reach at USD 108.7 Bn by 2031 and grow at a CAGR of 7.08 % over the forecast period 2024-2031.
The Global Equipment Market size was estimated at USD 1113.90 billion in 2022 and is expected to reach USD 1587.74 billion by 2030 at a CAGR of 4.99% during the forecast period of 2023-2030.
The Renting & Leasing Test and Measurement Equipment Market develop at a CAGR of 4.3% over the forecast period 2023-2030.
The Compressed Air Filter and Dryer Market size was estimated at USD 5.3 Billion in 2022 and is expected to reach USD 8.64 Billion by 2030 at a CAGR of 6.3% during the forecast period of 2023-2030.
The 3D Printing Construction Market Size was valued at US$ 36.71 million in 2023 and it is expected to reach US$ 10177.39 million by 2031, growing at a compounded annual growth rate (CAGR) of 102% between 2024 and 2031.
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